18ct. Diamond Smashes Estimate at Bonhams

RAPAPORT... An 18.04-carat diamond fetched $828,500 at Bonhams on Monday,exceeding its presale estimate of $400,000 to $600,000, Bonhams said Tuesday. The emerald-cut, G-color, VS2-clarity ring flanked bytrillion-cut diamonds led the company's New York Fine Jewelry sale. Itwas the first time the stone - which was from a private collection - had appearedat auction. "We saw some fierce bidding for this magnificent diamond and are delighted with how well it performed," said Caroline Morrissey, head of sales for Bonhams Jewelr, US. At the same sale, a solitaire ring by Royal de Versaillesfeaturing a round brilliant-cut, 7.01-carat diamond garnered $275,000, beating itsestimate of $180,000 to $250,000. Other notable items from the auction included a pear-shapedbrilliant-cut, 5.03-carat, D-color, internally flawless diamond-solitaire ring.The piece went for $250,000, within its original valuation of $200,000 to$300,000. A cushion-shaped modified brilliant-cut, 18.76-carat,fancy-light-yellow diamond ring flanked by white, trillion-shaped diamonds fetched $231,250, smashing its estimate of $100,000 to $150,000. A rectangular-shaped emerald-cut, 33.03-carat, deep-intense-blue Sri Lankan sapphire ring failed to find a buyer, Bonhams said. That piece carried a presale estimate of $250,000 to $350,000. The auction brought in a total of $4 million, according to Rapaport calculations, which Bonhams declined to confirm. The auction house will hold its Fine Jewelry sale in London on Wednesday, featuring a24.31-carat diamond estimated at $1.7 million to $2.3 million. Image: The 18.04-carat diamond ring. (Bonhams)